tv The Willis Report FOX Business June 24, 2013 9:00pm-10:01pm EDT
government, and what federal government can do to them. >> thank you for watching america, i hope you have a good evening. as see you back here tomorrow. "the willis report" is next. ♪ gerri: hello, everybody gerri willis. tonight on "the willis report", the advertisi this tablets for obamacare continues. th nfl is recruiting young men to sign up. the irs hit with another scandal sending ns of millions of dollars in refund checks to illegal immigrants. at one address. how do you do that? tips to help you travel lik a lebty we're watching out f you tonight on "the willis report." ♪ gerri: tonight's top story, the
success oror failuref obamacare hinges on one key group, young people. young, healthy people realizi how essential this group is, the obama administrations about to kick off a summer ad camign tryi to get help from major sports organizations, inclung the nfl, nba to psuade young of the americans especially men that they should paid thousands of dollars p year for help insurance. with us now, senior fellow at the manhattan institute. kendis idea work? >> not won the rubber meets the road because a lot of tse and people would face potentially hundds of thousands of dollars out of pocket. the only pay a penalty of $ in the first year and only pay a penaltyf $95 a day get sick. gerri: the idea is opening up. one hundred days away, and with the obamadministration wanted people to gn up, here wee lking. be ggossed over at the top. the man, young minority men that thereafter because a healthy pulation will bkroll
obamacare for the generation of folks or older and not to sell the. >> in today's market they're not buying in because they perceive insurance to be too expensive. new regulations will drivep the cost.@ so if they are not buying today, why would they buy and when is more expensive? rri: let's do the math. the penalty for not having coverage. >> start at $95. gerri: whathey pay on the exchange? >>epending upon their income, the c off point, thelex point is above about 200% of fpl 30,000 per person. bsidies will be around and you will pay more and more out of popocket. gerri: how much is that? >> hundreds of dollarssout of pock. gerri: average you could pay as much as te times the 500 on penalty. you know, there is a big gap between the promise oobamacare and what is actually being delivered. it may make econom sense not to b. >> allow people will be able to go on and see how much it will y. there will be expecting to get
e kind ofealthare that their parents have which will not what is offered. gerri: you know, tt's kin of care that their parents at, their parents and even have it anore. is just not a good as it used to be. i readecently that 42 percent of americans a unaware that obamacare is a lot. we had this moment coming on the risen very soon where people are going to realize what healt care is all about, and i think it will be a frightening realization. >> people will fin that in a lot of cases doctors will be available to see them, especially for the half the population that will be posted the medicaid. 30 percent of physi expect -- accept newatients and we are paying hundreds of thousands out of pocket. gerri: thank you for coming on. appreciate your te. well, seems like the irs just cannot seem to catch a break. more rrports of waste, fraud, andbuse. the irs had me than $46 million in t refunds to an authorized workers. here is the rea kicker.
the money all went to one address, a single address in atlanta. nearly4,000. at a day n catch up with that? let's bring in a senior political columnist for the washington examiner. tommy. how did that hapn? it seemsike mke that somebody should have caught. >> well, firsts starts with this very interesting conflict between what our immigration enforcement efforts to t and bdue and with the irs is doing whh is giving at individual x identificatn numbers, basically, to make sure that illegal immigrants were payin income tax. as opposed to, ynow, not being here illegally which is a conflict. on the other in this scene is the probably, possibly by fraud somebody was using these numbers toile tax returns and then get these thousands of different tax return checks bng mailed into this office. it was low level irs employees on the groround complaining
saying our bosses are making is issue these checks and even though we think their fraud. i complained to ccness which is what got the inspector general to finally look into it. gerri: in the last scandal, the one where there were targeting conservative groups lowel irs eloyees we blamed for the problem. now they're the ones trying to find a solution. as look at thi growing list of irs candles. i talked about the conservative groups bng targeted. also bonuses being doled out to union members at that time that the people being furloughed. expanding on conferences through their roots, mhandling of government credit cards. was the proem? whyan't this agey g it together? >> and add anoth one. they had the former ceo of h and r block come into the irs and help make rules to try to govern tax prep companiesike h&r block. gerri: when did that hpen? >> that happene in 2009-. it to are blocked like the rules because it kept out smaller
competitors. the pblem is, the existence of thisgency. it isot that there are the wrong ople or bad people there. we have a government agency whose job is to pry into people's lives were to lk at these groupsnd say, oh, they being too political. these are n things tt in a democracy, a country that respects privacy rights and free speech that does not match very well with their system. so we try to make these littl chans on this side o that side. as long as we have this agency, there will be abuses of power. gerri: look, the new acting commissioner today how the program, a plan to reformhe irs. among the things he suggests, spenning the use of those be on the lookout lists like there were in the targeting of the conserva groups. new leaders, accountability review board, a self certifation process. what do you me of these changes? is this enough? this just paper coveringver the big problems.
>> i think that putting people in charge o sayin -- policing political speech bause that is effectivel with the irs is doing, some of the eyond the look of words were words like progressn, as a going after the other side as well as the tea party. so you're putting the irs in a position of picing political speech. that is a bad thingo -- a bad power to get to the organization that has the per to t because the supreme court. gerri: you put those two things together andt's really not -- in these to the folks that are going employ obamacare. >> giving the irs new powerss onef theany problems that obacare has commanded tches thiesson. increased government power and you increase the opportunities for the abuse o power and for ecial interest to abuse that power and you're asking for me trouble, just like this. gerri: set up by moscowy bynum. thank you for coming on. appreciate your time. >> thankou.
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gerri: welcome into you know what is in your st food? spilling the beans and its ingredients, becoming the very first restaurant to expliciy labe foods containing genetically modified organisms. causing a lot of controvsy has been modified crusty need to increase the quantity of food. joininme now, editor for supermarket group. welcome back tthe sw. i mean, the irony of this and at is funny about it is that much of the menuu is genetically modified. what you make of this? >> absolutely. good news is that they have always been transparent. if you loo get their website, and i printed out menu items, it shows whats organic, what is
local, what is gm mile, but the reality is that so much of their food is genetically modified. you point out one reason is certainly we have better crop yids. also, let's not forgethat som are to increase the color of foods naturally or increase the flavor or even the nutritional value of it. so there are a lot of reasons for it. rri: t think foods are problematic? modified fd? >> personally, i'mot. they have been out there over 20 years. we have seen a lot of data, a lot of studies. the world wildlife foundation has come out in favor of them. we have seen majoronservaty co out. when y look at the pure science, they are not an issue, but it is a very emotionaissue for people especially as it is making more headlines as it relates to labelling. gerri: i have seen studies, t -- i think there was a french stor thatinks gm of the
cancer. is that somethingo woy about? an unusual study? >> i have not seen a steady. let me start there, but of the cities that i have seen have not shown any of benefit, dwbacks, or nutritional drawbacks. gerri: was looked at where these are found on the menu. barbara cohen, chicken, a chipotle honey vinaigrette. i don't know if i could make it through this segment because i love their food. so a lot of foods contain them. brown and white rice, state tortillas. if you're going to eat their you're going to eatome gm sle. gerri: if you go into the supermarket and buy a food you're going to see them. keep in mind, over 90 rcent of corn, 90 percent of week, you mentioned price. a lot of their crops are gm o. also, doesot forget that one of the other reasons is being allowed to grow food in areas of th world where food will not grow before because of lack of
water, poor nutrients the soil. there are a lot of reasons for this, but also one key point ways remember, even if it's not being labeled, if you buy something that is certified, usda organic it may not have gm no. gerri: that is one way to avoid it. >> absoluty. gerri: look for the usda label organic. as true and a good point to make the reader wondeng if more change will follow sui here. will we see morend more of the stores,yelids, will retail stores, for example, start spending more time labeling foods as gm of? >> well, when i comes to restrants absolutely. ifif they say they haveot seen any difference in sales. if they do not drop, absolutely because it is the same thing that did it with livestock, being able t have, you know, the proper conditions for animals. it is transparey when
everyone wants to do in the food world. is different when it comes to supermarkets because, again, they are not in total control of the food. that is more of a manufacturing issue. again, rely on certified organic defense which are looking for. think it will be too costly and too cumberse to label every food on whether not it has gm te. inact, in brazil they did that and saw no change in customer shopping behavior and even though was levels. gerri: -- gerri: interesting. if you want to eat their committee hefty beans, cheese, guacamole, lettuce, and sour cream, as all the toppings. hat okay by me. thank you for comg on. >> and margarita. gerri: i'm so glad you brought that up. thank you. well, later inhe show, stocks recovering some of the heavy losses, but the end of the day in the red. investing adve coming up. nextwe awer the question how
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compare. how did they travel differently of their secret tunnels? >> welorhe most part celebrits use travel agents so they're typically plug into the pr deparen. remember, airlines and even the tsa get star suck from time to time. so depending upon the level of destruction there will enter in certain instances. the measure if there are a secret tunnels. if they are, there will be after this segment. there will go into a certain area where there is less of a potential disruption. just remember, the airlines a tsa are starstruck. probably not tk to happen to you tonight, there are some folkso spepend hundreds of thousand dollars and a trip to the same weight. gerri: i understand that you never e a star in those long lines waiting to get searched. apparently from wha i read they go through theame lines as vendors do. so there is it -- >> vendors, pilots,es.
they go throu the area where there are pilots of the vendors go. depends upon the level of destruction. i have seen lots of folks come through that were celebrities in particul areas. some of them want to be seen. so theyike to get all of the disruption. it just depends on your level of celebrity. a lot of these folks typically fly private as well. gerri: that makest easy, but there are also secret lounges fr what i understd that are very fancy. how do i get in on this? how ds the average american access this? >> the first thing is that if you fly a lot you will get some of these birds if you achieve the release status. you can buy cat in line for 25 and $30. you can buy cut in line at the gate. you don't even have to a frequent-flier. yo can get day passes at the lo. these aare just 25 to $40. so there are ways to do those things without having to be, you know, a celebrity. robert, these are dignitariess
well. aiorts like reagan have these kind of facilitiefor dignitaries to come in. gei: if you're willing to spend a little extra money, you can do this, but if you're saving your money tonight you have a advice for people who want to pick magic dates and save money on flyin >> and these all sort of correspond to when kids go back to sool. in your city the day that kids go back to school, immediately those prices tend to dro by anywhere from 15 to 35 percent which typically is the last week in august. for longer flights is like august 29 to. shorte, three our fights, that's an early september. thbottom line is, shopping for tickets right now and buying themor that last week in september. are talking about ticket prices for your a drop fromike 1400 do to 1100 degrees to a pretty expensive, but a pretty good savings. gerri: what about a short flight? >> thehorter flights tend to
always beretty cheap. if it is under anr and a half for two hours, the main reason for flights that are always jeep is they cpete with driving traffic. a lot of people just won't take thelights. it will drive 34 hours which is typically what does hour-and-a-half flights are. as alws pretty cheap fare, but if you're going coast-to-coast and the magic date is about august the 25th. that is when prices go from $500 round trip down the 350. gerri: i like tt adve. thank you for coming on. good to see. well, time for a look stories you're cookingonight on foxbusiness.com. wall street continues to run sced with stocks down 140 points aer falli as much as 248 points throughout the session. today's drop follows a 4% last week following the fed announcement that tickets in start wrapping up stimulus offers. worries about ina's grow by leading to market volatility. european commission is approving the internet continental exchange proposing a $8 billion
takeover. it says that the two are not direct cpetitors and will continue to face strong competition. the combined index would be the third lgestxchange group globally. as we come back. the company went bankrupt after a fight with unionized workers. back up and running under new owners and says its an to have twines and others next back on shelves starting july 15th. andhe supreme court has made it moreifficult for americans to sue businesses for discrimination. the court rul that e person must be allow to hire and fire somebody to be considered a supervisor in such suits. those are some of t hot stories right now on foxbusiness.com. and more coming up next. at is going on at facebook? y6000000sers at their private informatio exposed. and traders are not tning things around again today. the stocks in the r yet again. is there any rhyme or reason to these mkets?
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>> from our fox business studi in new york, here again is gerri willis. gerri: morage rate suspect in the past month or so, but that es not mean your out of luck if you're looking for a loan. you still get a good deal for a new home or a second one. with us now greg mcbri. great to see you. so you actually have some gd news. we are downplaying theews the you're bringing to the said. you say that interest rates for mortgages, rates are modified. >> well,hat you are seeing, a huge run-up over the last week, and even this morning it was contuing. people a thinking, mortgage rates will go to 5%, the ten year treasury will the 3 percent. what happened as the day when document with some bond yields and mortgage rates settle down a
little bit. i thhnk long story short as the dust settles i wld not be surprised to see mortgage rates pull baca little bit. gerri: about four and a half percent is wt we're looking at. what do you see as we go forward? is this a short rest by? >> the economy is not hitting the cover off the ball. the timetable the bernanke outlined last week and i would be shocked if it plays out the way simply because the fed has, time and time again overestimated economic performance gerri: always toppease. >> exactly. the end of t year could come and go and we may still not see the fed starts to taper. when economic reality starts and, one disappointing economic number away from that happening, you can get rates pulled back a little bit. will we have seen, particularly in the last seve days is a huge overreaction. gerri: hug overreaction on the stock side which translates into the bond side, the intrest-rate side. >> interest rates are not going up. inflation is low. the economy is now or it needs
to be in the tantillo line is ally a best case scerio. i said, time and time again they overestimated at to mention we have hit a little sluggish patcin the economy the past three years in a row at this time. sequestration, budget cuts, stagnant household income. would not be surprised to see it happen a fourth euro. gerri: thenteresting things going on in the market from a consumer point of view is that we have seen 30-year mortgage rates, which makes it more difficult for first-timeuyers. and then onhis safer site, if you have money in a mey-market account, you're oking in cds or never, we have not seen any big boost. so as a consumer and looking at this and saying, where is the help? >> we have not even seen a small boost on the deposits, and you're not going to. the fed has been clear, there willot raise short-term rat until uneloyment is below six &r inflation gets above two and half%. are not close to either one of those. realistically is probably a couple of years away and not to
mention banks as coming in deposits, so that allave to pay up just becse they ddn't have the ldon and paris of deposit yields areot going to go up. a go news is, you have a consumer loan products that won't go up either. credit-card late, home equit loan, variable-rate student loan will go up to begin at story by your adjustable rate mtgage resetting gher all thats still a few years wn the road. gerri: once the money from my savings. thank you for comingn. >> thanks for hang me. gerri: breaking news out of washington. the ig immigration bill i working its way through ccngress just passing a key vote in the senate. backers of the bill that the 60 tes needed to advance the measure. the bill is the biggest chance to get new immigration laws in this coury in a generation. allow an estimated 11 million illegal immigrants in the country the path to citizenship a final senate vote is expected later this week. big news. still to come, my "2 cents more" and next, they seem to be all the rage on grocery store shelves.
♪ gerri: a fox business alert. more fallout for paula dean and her massive food empire after admitting to using racial slurs in the pork producers is dropping dean is a spokeswoman. in a statement it said it condemns the use of offensive and discriminatory language and behavi of any kind. the announcement coming days after the food network sd it uld notenew the contract which is set to expire at the end of the month. more news. and on to more stories. grocery stores bombard you with products containing per bionics claiming a vast array of health benefits. sales are surging. joining me now regisre dietitian, creator of mom diss it out. these companies to make these pro bionics said it will save you from all kinds of things.
they will fix everything that is wrong with you. do you believe it? >> i think if you have an issue, if you are constipated or i you have bloating or if you're going to take antibiotics, using this would be a good idea of. gerri:hat doet do? >> a bteria or yeast. and these little ooganisms go into your gi system and help to rebalance it. typically someone taking antibiotics caught ting something that is killing off bad cteria, but it als kills off good bacteria. gerri: there are good and bad bacteria. of me understand that because apparently over a lifetime you create a ton above. >> killing the bacteria, but it is killing both so that you lose the good bacteria. if youe taking a pro bionic helping to rebalance it, i it wl actually decrease your chance of getting diarrhea by 42%.
rri: you don't have to buy these. there are foods in wch they occur naturally. talk t us about this. it in over $2 billion industry. >> foods like yogurt natural have them. gerri: you don't even have to buy the special yogurt. >> just beuse it say, you don't have to spend the extra money. in addition of yeast and bacteria in the milk product. contains used. ere is something called kimi which is aermet cabbage and sauerkraut. gerri: i love tt. the fda is not regulating this. how the nose of what you are getting is t right thing? >> they do not regulate in supplement. so jus like a vitamin, it's not regulated, but you canse of third-party company.
ey will actually rate to different pro bionics o supplents the you want to uss. gerri: what is that called? >> conmer lab. and so they will re whatever it is. you can search whenever your brand is. then if theyave done atudy -nt will give you the information on whether it passed the test. does it contain a billion bacteria, like it says. gerri: a lot of study about all the bugs and how that changes how you feel what are other kinds of supplements? >> well, something like this supplement here, they offer someing called pre biotic witches and indigestible foreign sugar which is a carbohydrate and is now in a lot of the food. you need.
basically the bactea use is the sugar to actually create the new benefial bacteria. the other thing is something like ginger are peppermint, using nt can help people with their stomachs. some people are just lactose intolerant. eat something in a smaller portion. gerri: thank you for coming on. great to have yourichele. appreciate your time. as we get set to celebrate america's iependee, you may have to shell outore money for the barbecue have been looking to throw. the food itemshat have seen the biggest inease inrice. chicken breast. before you throw them on the grill he should know that the prices jumped nrly 10% since last year. the smoked pork, rebs are an even worse option. the price of pork up nearl 12%.
number three, iceberg lettuce, mo o us don't like to eathe lad, but if you want the sloppy son your cheeseburger it will cost to cope percent more. nuer two, wind, the cost is of more than 13%. the numr one item that will cost you more is gleaned ground meat. according to the bureau of labor statisticsrices have skyrocketed more than 20%. some good news. snacks and desserts ll likely cost u.s. the price of potato chips is not critical, down more than 13%. the costa cookies and as camera down as well. we will be right back with my "2 cents more" and t answer to our question of the day. what is the best investment, cash, gold, more stocks. stay with us. ♪ i wt to make things more secure. [ irring ] [ g barks ] i want to treat mo dogs.
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gerri: more signs of distress in china's economy, adding to jitters on wall street, stocks postingnother day of big decline, what do you think it the best investment? cash, gd or stocks. we asked on gerriwill.com. log on for our on-line question every weekda. some e-mails you are sending in tos, let me say, i loveour show, admire your iight, character and wit. >> and gary from arizona said, i care anywher my food ces from, i am opposed to givin companies a free pass on gmo products. >> here is mark from california,
i believe that word orgic doess not mean bein anything except hr ices. all foods suld beel for what country they ce from, i would not buy foods, producer on packaged in china, barne from nevada, government can't run the post office, how are they going to run health care, patty from georgia, i have my medical insurance information given to a stranger by a person working for the doctor. ouch, patty, insuran company contacted me. i am vey concerned. bob from texas let's face it, college is over for america, no one can afford, professor's pay is way too high are we're in for a rude awakening down the road. i lovhearing from you, send me an e-mail, gerriwillis.com.
>> friend we're a hundred days out from the formal introduction of obamacare, it happens october 1,oll out of health care reform promis to be messier than process of getting the law psed in the first place, we talk the at top of the show about how health a human services i begging and all services with appeals for men 18 to 35 to pus them to embrace the new exchanges. none of it looks like it is coming to pas as intended, federal and state officials have blown deadlines, regulatory confusion serv is everywhe -- peaps nothing sums up trouble with obamacare more than it will be inforced by the irs irs, agency that targeted conservative group which is wildoli out bonuses on union members even asurloughs have been ordered, same agency who
spent wildly on conferences, solution for healthcare, nope, ama is a trage for americans, that is my two cents more, and tonillis report, thanks for joining us have a great night. lou: good eveng thank you for being with us, it has been a day of drama on capito hill. on wall street, and at an undisclosed location in the world, possibly china, perhaps russia or in south ameri. whereabouts of nsa leaker, snowden, sll unknown tonight. we'll bring you up-to-date on the very latest develment in the so far futile search for thosthosesnowdesnowden. and federa reserve officials started sounds what sou